Cadence Bank (NYSE:CADE) Shares Sold by Principal Financial Group Inc.


Principal Financial Group Inc. trimmed its position in Cadence Bank (NYSE:CADEGet Rating) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 639,511 shares of the company’s stock after selling 32,589 shares during the period. Principal Financial Group Inc. owned approximately 0.59% of Cadence Bank worth $18,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Shaker Investments LLC OH acquired a new stake in shares of Cadence Bank during the first quarter worth $654,000. Rhumbline Advisers lifted its stake in shares of Cadence Bank by 86.8% during the fourth quarter. Rhumbline Advisers now owns 620,175 shares of the company’s stock worth $18,475,000 after buying an additional 288,133 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Cadence Bank by 5.8% during the first quarter. Teacher Retirement System of Texas now owns 39,579 shares of the company’s stock worth $1,158,000 after buying an additional 2,174 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Cadence Bank during the fourth quarter worth $679,000. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Cadence Bank by 511.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 10,114 shares of the company’s stock worth $301,000 after buying an additional 8,460 shares during the period. 71.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CADE. Raymond James lowered their price objective on shares of Cadence Bank from $35.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 7th. Truist Financial decreased their target price on shares of Cadence Bank from $32.00 to $30.00 in a research report on Wednesday, June 15th. Jefferies Financial Group decreased their target price on shares of Cadence Bank from $28.00 to $26.00 in a research report on Monday, July 11th. TheStreet upgraded shares of Cadence Bank from a “c+” rating to a “b-” rating in a research report on Friday, May 27th. Finally, Piper Sandler decreased their target price on shares of Cadence Bank to $33.00 in a research report on Monday, July 4th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank currently has a consensus rating of “Buy” and an average target price of $31.33.

Cadence Bank Stock Down 1.8 %

CADE opened at $27.76 on Friday. Cadence Bank has a fifty-two week low of $22.04 and a fifty-two week high of $34.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The company has a fifty day moving average of $24.84 and a two-hundred day moving average of $27.10. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.23 and a beta of 1.07.

Cadence Bank (NYSE:CADEGet Rating) last released its quarterly earnings data on Monday, July 25th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Cadence Bank had a net margin of 17.35% and a return on equity of 11.01%. During the same period in the previous year, the business earned $0.86 earnings per share. On average, research analysts expect that Cadence Bank will post 2.92 earnings per share for the current year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.17%. Cadence Bank’s dividend payout ratio is currently 51.46%.

Cadence Bank Company Profile

(Get Rating)

Cadence Bank provides commercial banking and financial services in the United States. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.

Further Reading

Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bank (NYSE:CADEGet Rating).

Institutional Ownership by Quarter for Cadence Bank (NYSE:CADE)



Receive News & Ratings for Cadence Bank Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cadence Bank and related companies with MarketBeat.com’s FREE daily email newsletter.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *